Trade ideas thread - European session 15 February 2023<p style="" class="text-align-justify">After the US CPI data, we now move on to the US retail sales data. It's all about what is on the economic calendar these days as markets are pretty much stuck on this rollercoaster ride. The risk mood is softer today but that can all change depending on what we get from the data later today.</p><p style="" class="text-align-justify">Meanwhile, the dollar is sitting firmer but the key technical levels outlined <a href="https://www.forexlive.com/news/what-are-the-key-levels-to-watch-for-dollar-pairs-ahead-of-the-us-cpi-data-today-20230214/" target="_blank" rel="follow">here</a> are all still very much in play. That will keep traders on edge as the debate rages on about whether broader markets have it right or the Fed's more hawkish outlook will be vindicated. I shared some thoughts on that <a href="https://www.forexlive.com/news/unsure-of-what-to-make-of-the-us-cpi-data-yesterday-20230215/" target="_blank" rel="follow">here</a>.</p><p style="" class="text-align-justify">The drop in gold looks to extend further with the 38.2 Fib retracement level of the upswing since November seen at $1,828.70 next. That will come before the $1,800 mark and that is one to watch as the dollar continues to make strides in pushing for a move higher.</p><p style="" class="text-align-justify">But be mindful that US retail sales is the next key risk event that could swing sentiment the other way or double down on the softer risk tone we are seeing now.</p><p style="" class="text-align-justify">What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.</p><p>Play at x1.25 speed for a bit more of a bop. ;)</p>
This article was written by Justin Low at www.forexlive.com.
Source: Trade ideas thread - European session 15 February 2023 (https://www.forexlive.com/news/trade-ideas-thread-european-session-15-february-2023-20230215/https://www.forexlive.com/news/trade-ideas-thread-european-session-15-february-2023-20230215/)
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